Zheng Quan Shi Bao·2026-01-04 17:42Core Viewpoint - The restructuring of the international order and China's industrial innovation will support the performance of A-shares in 2026, with a market trend expected to rise initially and then stabilize [1] Group 1: Growth Areas - The AI sector is anticipated to enter an application realization phase, with opportunities in computing power, optical modules, and cloud computing infrastructure, leaning towards domestic solutions [1] - On the application side, focus areas include robotics, consumer electronics, intelligent driving, and software applications [1] Group 2: External Demand - The trend of going global and exposure to the U.S. market suggests attention to sectors such as home appliances, engineering machinery, commercial buses, power grid equipment, gaming, and globally priced resources like non-ferrous metals [1] Group 3: Cyclical Reversal - Attention should be given to sectors nearing improvement inflection points in supply and demand or those supported by policies, including chemicals, aquaculture, and new energy [1] Group 4: Market Policy Expectations - There is an expectation for capital market policies to further promote a "long-term" and "steady" market, enhancing capital market openness in the context of international monetary system restructuring and global capital reallocation [1] - This includes expanding the scope of foreign investment, encouraging the internationalization of Chinese securities firms, and supporting financing for innovative enterprises while optimizing mechanisms for long-term capital market entry [1]